Cash strapped appraisal company30 May 2026 13:34
The main difficulty with panr is that they are cash strapped and havent managed to prove their geological models at all. What does that say about Kodiak?? Megrez was a disaster, alkaid was not commercial, dubhe was pulled before it became patently obvious it wasnt flowing. The envelope of expectation chat was utter twaddle, clearly now revealed on hindsight, and the pre Christmas rns was just another classic panr fumble, surrounded by 3 capital raises in the space of a few months. Now the company is sitting there with Michael Spencer brought in to essentially sell it off and get his investment back. The major risk is that they have very little to bargain with and backs against the wall, so likely outcome here is refinancing supported by MS with incredibly favourable terms that allows him to get away with breakeven or some gain, while longterm holders here get fleeced. I cant envisage a major offering more than 20 or 30 pence here, with no residual stub equity. It will be a wham bam sale with directors hides saved and average Joe wiped out. In my opinion anyone with an average of 25p or higher here will never see profit. The recent rise was simply autotrades and gap up due to oil price movements. The sell off started at 18.5 and the 13.7p support is looking fragile so again, it looks like a possible gap to 11.5p
Will this stock reach 25/30p... possibly, but the real risk is majors just sit back and let panr sweat it out and they either try and drill TWII themselves or wait until next year, or more. They will need a lot of cash to drill and they dont have it. If they did drill then testing would be 2028 if at all. And require £100m for all the drill, iceroads, crew and appraisal. That would also require refinancing as cannot imagine insties or retail getting involved with equity placing. And then there would be 2bn or more shares. Madness. Their only real option is to sell at whatever price they can, and that price will be incredibly low imho.
Personally I think the dream that was panr and the 100p days are well and truly over and now its just escape hatch time, which may happen by q4 for pennies on the pound.
Scott and all the Discord crew were completely wrong its fair to say. The Flight discord group simply fuelled themselves on pure hopium. None more so than at Christmas with the dubhe closedown rns, which many stated would be a cruddy rns but was met with much pushback, followed by another disaster raise.
The proof is in the pudding. May be a 1 bagger from here, if incredibly lucky could be 1.5bagger. But more likely will be the MMs fleecing investors for the next few months on the ups and downs and an offer comes in for 20p. May even visit sub 10p again before it goes anywhere in earnest.
By 2028 I think will be safe to be able to look back at Texas and Alaska PANR as a cautionary tale in glossy presentations and elephants but with very little real world results and the insanity of 150p appraisal co wit
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